It reflects the amount of money bet on a horse; the more money that is invested, the shorter the odds. When horse racing odds are shown in the form of , , etc, it expresses the amount of profit to the amount invested. A percentage of the pool is withdrawn to be reinvested into racing, and the remaining funds are paid out on the winning wagers.
The mutuel payoffs lists — so named because TwinSpires uses the pari-mutuel betting system — are another way of indicating to bettors how much money they will receive.
Unlike the odds format ie , , , as mentioned above , the listed mutuel payoff includes the original investment and not just the amount of profit.
Therefore, for a horse at , divide 7 by 4 1. If a bettor wants to know exactly how much money will be returned to them from a successful bet, multiply the mutuel payout by the amount invested, and then divide by two. Predict the first two horses in a race in the correct order.
Predict the first three horses in a race in the correct order. Predict the first four horses in a race in the correct order. An Exacta wager is made on the top two horses to finish the race in an exact order.
The bettor must successfully predict the winner and runner-up in precisely that order to win. A Quinella wager is the same as an Exacta wager except that the bettor does not have to pick the horses in order. So long as the two chosen horses finish in the 1st and 2nd place, the bettor will have won his or her bet. A Trifecta is much more difficult to hit on than an Exacta as it involves the 3rd place horse as well as the winner and runner up. A Trifecta is only successful if the bettor has predicted the top three finishers of a race in their exact order.
Any other combination results in a losing bet. The Superfecta wager is the most difficult of all of the Exotic Wagers and features the highest payout in all of pari-mutuel betting however with fantastically difficult odds to win.
A bettor must successfully pick the top four horses in precise order in order to win. There is no other combination type which would result in a win other than correctly predicting the 1st, 2nd, 3rd and 4th place horses as they finished. A Pick 3 Wager is when a bettor picks the winner of three races in a row at a track. A Pick 4 is the same yet with a fourth race simply being added.
A Key Wager is when a bettor picks one particular horse in an exotic bet to finish in a particular place but is unsure of the finishing places of the other horses around the keyed horse. Wheeling and Keying are nearly synonymous with each other in many instances at different tracks or online racebooks.
For instance, a bettor can pick his top four favorite horses in a Superfecta Box where every combination is picked and he is guaranteed a win provided those four horses take 1st, 2nd, 3rd and 4th place. Each box combination bet counts as its own wager however as this betting style can be quite costly. You may be wondering how much money you will stand to win off of a successful Straight or Exotic Wager and rightfully you should.
The amount you stand to win is dependent on the amount of bettors and money wagered on the overall race. Straight Wagers will typically have the best odds however with the lowest payouts whereas Exotic Wagers will have difficult odds yet with impressive payouts.
Most races will have updated purses listed before the start of a race along with fractional odds in which a bettor can determine how much they may win. All of the different Straight and Exotic Wagers are available at our favorite online racebook, Bovada. Having been in the business for decades, Bovada has optimized their page with the smoothest page design and betting options over 80 different racetracks across the globe with lines and odds updated and refreshed every second.
Their online BetSlip features an impressively easy to navigate interface where users may look up any race of the day that they wish while make exciting Exotic Wagers such as a high paying Superfecta. Bettors at Bovada will also find enticing futures bets such as the upcoming Kentucky Derby where winners can be predicted before even the field has been set.
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